July 1, 2021
Latin America is a central focal point of U.S. government enforcement, but how will things change with the new U.S. administration and the adoption of new enforcement tools? Kobre & Kim’s Evelyn Sheehan spoke with Aguilar Castillo Love’s Natalia Callejas in part one of an in-depth Q&A to explore the changing enforcement landscape.
While it is still early into the new administration, Ms. Sheehan sees a renewed commitment to cooperation in global anti-corruption efforts, a recognition that corruption in Latin America reverberates into the United States and redoubled efforts into local capacity building and funding. Those in the region involved in illicit activity will likely see increased U.S. criminal or asset exposure.
Ms. Sheehan points to recent legislation such as the United States Northern Triangle Enhanced Engagement Act, the U.S. Anti-Money Laundering Act and the U.S. Kleptocracy Asset Recovery Act as providing the U.S. Department of Justice (DOJ) with expanded tools to enforce against Latin American targets. These include sanction powers, new compliance and reporting requirements on financial institutions and expanded whistleblower programs to further encourage international cooperation.